Representative APR 239.7%.

Representative Example: £500 borrowed for 5 months. Total amount repayable £1,003.58 in 5 monthly instalments of £200.72. Total Interest £503.66. Interest Rate 239.7% pa (variable). Rates between 9.3% APR and 1294% APR - your no obligation quote and APR will be based on your personal circumstances. Loan term lengths from 3 to 18 months. †Loan amount subject to lender's requirements and approval. Subject to lenders requirement and approval. Once approved, your cash will be sent within 15 minutes. The time that it takes for the cash to be received in your account will depend on your bank’s policies and procedures. *New Horizons will not perform a credit check, lenders will complete a soft search when assessing your eligibility for a loan. If you accept a lender’s loan offer, they will perform a hard credit search.

Guaranteed loans – Is there such thing?

The quick answer to this is no. There is no such thing as bad credit loans with guaranteed approval. However, due to the introduction of new lenders, there are now many payday loans lenders who look past traditional background checks such as credit score and credit history. Instead, these lenders focus on indicators such as affordability when some lenders are offering you a guaranteed loan, they are misleading you as no loans are guaranteed. Although, an increasing number of direct lenders are providing payday loans for people with bad credit in the UK.

New Horizons gives you simple, instant access to a huge selection of loans, unfortunately none of these are guaranteed loans, because that just doesn’t exist. These lenders are selected based on the information you provide us and are those most likely to quickly approve your payday loan. This allows you to select the direct lender for you and be confident in the knowledge that you have a great chance of being approved.

Will I be accepted with no credit check?

There short answer to this question is you can’t. Because The Financial Conduct Authority requires all lenders to perform a credit check on your application, even those that mislead you by offering so called ‘guaranteed loans’, there is no way of knowing for sure whether direct lenders will approve your loan until you actually apply. As such, there is no such thing as guaranteed loans with no credit check. However, this led to an extremely negative cycle in which people with bad credit were often denied loans; making it even more difficult for them to get the loan they need in the future. In an effort to help such people escape this cycle, our system matches you with the direct lenders most likely to approve your loan. Having this information before you apply significantly reduces the chances of your application being denied. Furthermore, this ensures you quickly get the money you require as well as protecting you credit score.

Will the direct lender need a credit check or guarantor?

All authorised direct lenders are required by law to perform credit checks on loan applications. Therefore, if you see a company advertising guaranteed payday loans with no credit check they are not being truthful with you. What this means is by applying for a so-called guaranteed loan you could be damaging your credit score without even knowing it. However, this does not mean that these loans are difficult to get if you suffer from bad credit.

Many direct lenders now understand that credit scores are often not a true reflection of your ability to repay a payday loan. As such, many certified direct lenders now offer payday loans for people with bad credit in the UK based on information such as your current situation rather than the outdated model of credit score. This new way of assessing loan applications has also changed the need for a guarantor. In the past it was very difficult to get a loan without having a guarantor. However, many lenders are now aware that having a guarantor is not always possible and therefore you should not be penalised for this. To help such people get equal access to loans, New Horizons can quickly connect you with direct lenders that specialise in providing no guarantor loans.

If you are struggling with your debts and require assistance. You can speak to the companies below, free of charge.

About

About New Horizons

New Horizons is a registered trading name of RIFM Limited, which is an Introducer Appointed Representative of Flux Funding Limited. Registered in England and Wales (Company number 10505990/FRN 776011) Registered Office: 85 Great Portland Street, First floor, London, W1W 7LT. Flux Funding is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 806333. Licenced by the Information Commissioners Office, (registration number ZA222712)

Flux Funding is a licenced credit broker, not a lender. *New Horizons will not perform a credit check, lenders will complete a soft search when assessing your eligibility for a loan. If you accept a lender’s loan offer, they will perform a hard credit search. †Subject to lenders requirements and approval. Once approved, your cash will be sent within 15 minutes. The time that it takes for the cash to be received in your account will depend on your bank’s policies and procedures.

New Horizons does not charge customers a fee for using its services, but it receives a commission from lenders or other brokers if a customer enters into a consumer credit agreement following an introduction through this website.

Representative Example: £500 borrowed for 5 months. Total amount repayable £1,003.58 in 5 monthly instalments of £200.72 Total Interest £503.66. Interest Rate 239.7% pa (variable). New Horizons is a registered trading name of RIFM Limited, which is an Introducer Appointed Representative of Flux Funding Limited, who is a broker – not a lender.Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.